China’s Kuaishou to raise US$2 billion from maiden overseas bond sale
Short-video platform to issue US dollar and yuan tranches with coupon rates of up to 4.75 per cent
The company would issue a US$1.5 billion tranche and a 3.5 billion yuan (US$502.4 million) tranche, both in Hong Kong, according to an exchange filing on Friday. The dollar bonds maturing in January 2031 will carry a coupon of 4.125 per cent, while those due in January 2036 will carry a 4.75 per cent rate. The yuan bonds will have a coupon of 2.45 per cent.
Kuaishou said it would use the proceeds for general purposes, without giving further details.
Shares of Kuaishou fell 1.5 per cent to close at HK$78.35 on Friday after surrendering earlier gains of 2 per cent.
Kuaishou is China’s second-largest short-video platform and the third-largest mobile app in the country by total user time spent, with 416 million daily active users (DAUs) in the quarter ending September.
